Gabion Technologies IPO Day 2: GMP Holds Firm As Subscription Nears 200 Times - Check Details

The initial public offering (IPO) of Gabion Technologies which opened for subscription on Tuesday, Jan. 6, received a fantastic response from the investors as the 29.16-crore SME issue was subscribed over 57 times on Day 1. Incorporated in 2008, Gabion Technologies India Ltd. manufactures steel gabions and offers geosynthetics, geotechnical engineering and ground improvement services worldwide.

The grey market premium for the IPO remains strong, despite surging investor interest; the GMP has increased by 20% since January 2, when it was Rs 25.

As subscription for the Gabion Technologies IPO enters its second day, here’s a look at the latest grey market premium (GMP), offer size, price band, listing date and other key details.

The latest GMP for the Gabion Technologies IPO stood at Rs 30 per share on January 7. With a price band of Rs 81, the estimated listing price is around Rs 111 per share (GMP + upper limit of the issue price). The latest GMP suggests an expected listing gain of around 37.04% per share compared to the upper end of the issue price.

Note: GMP does not represent official data and is based on speculation. GMP data sourced from InvestorGain.

According to the latest BSE data, the IPO has been oversubscribed 190.69 times as of Wednesday.

• Qualified Institutional Buyers (QIBs): 6.45 times

• Non-Institutional Investors: 233.37 times

• Retail Investors: 270.90 times

Investors have bid for 49,15,34,400 shares against the 25,77,600 on offer.

Gabion Technologies IPO is a book-built issue worth Rs 29.16 crore. The IPO consists entirely of a fresh issue of 36 lakh equity shares. The price band for the issue has been fixed at Rs 76 to Rs 81 per share.

The lot size for one application is 1,600 shares. Retail investors are required to apply for a minimum of two lots, or 3,200 shares, amounting to a minimum investment of Rs 2,59,200 based on the upper limit of the IPO price band.

GYR Capital Advisors Pvt. Ltd. is the book-running lead manager to the issue, while Kfin Technologies Ltd. has been appointed as the registrar.

The IPO will conclude its subscription on Thursday, December 8. The allotment of shares for the Gabion Technologies IPO is expected to be finalised on January 9. The company’s shares are proposed to be listed on the BSE SME platform, with a tentative listing date of January 13.

The company plans to use the net proceeds from the IPO mainly to meet its working capital requirements. Around Rs 1.06 crore will be utilised for capital expenditure. The remaining funds will be used for general corporate purposes to support business operations and growth.

Gabion Technologies manufactures steel gabions and offers geosynthetics, geotechnical engineering, and ground improvement services globally. Its product portfolio includes hexagonal wire mesh gabions, defence gabions, rockfall protection nettings, reinforced geomats and flexible geogrids.

For the fiscal ended March 31, 2025, the company reported an Ebitda of Rs 15.06 crore, compared to Rs 13.16 crore in FY24. Profit after tax rose to Rs 6.63 crore in FY25 from Rs 5.82 crore in the preceding financial year. However, total income declined to Rs 101.17 crore in FY25 from Rs 104.97 crore in the previous financial year.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.